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UK fund boards must ‘challenge’ firms, warns FCA – Ignites Europe

The UK’s financial watchdog has urged fund boards to actively challenge investment managers over the value they deliver to retail clients. In an interview with Ignites Europe, Nick Miller, head of the asset management department at the Financial Conduct Authority, warns that it is “not good enough” for boards to take a box-ticking approach to new […]

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Questions raised over value of funds with fixed fees – Ignites Europe

Questions have been raised over whether investors in funds that levy fixed fees are receiving value for money after research found that the products are more expensive than funds with variable charges. Fitz Partners, a specialist fee research firm, has found that actively managed equity funds with a variable fee model have average ongoing charges

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Ban on fund charge caps ruled out by Esma – Ignites Europe

…Esma’s approach is likely to mean that different rules will apply to Ucits funds with performance fees being sold into different European markets, experts say. Hugues Gillibert, chief executive officer of Fitz Partners, a specialist fee research firm, says: “The main issue is the creation of a regional or national hurdle to the free distribution

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Asset managers ‘should cut fees as assets rise’, says CFA UK – Ignites Europe

Asset managers should embed cuts to funds’ annual charges as assets rise, in a move that would slash firms’ revenues and make fees fairer to investors, according to a professional body for investment professionals. Ignites Europe estimates that the move, if widely adopted, could deprive asset managers of tens of millions in fee revenues. view

Asset managers ‘should cut fees as assets rise’, says CFA UK – Ignites Europe Read More »

Assets in pre-RDR share classes fall to £184bn – Ignites Europe

Investors in UK funds worth £184bn (€214.8bn) are still in higher-charging share classes, despite new rules introduced last year that allow asset managers to move them into cheaper share classes. Assets invested in pre-RDR share classes fell by 18 per cent in 2019, compared with a drop of 14 per cent the year before, according

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UK funds still paying IFA commissions stand at £184bn – Financial Times

Close to £184bn of UK investor money is languishing in expensive funds that still pay commissions to financial advisers, despite efforts by the financial regulator to stamp out conflicts of interest and overcharging. According to the consultancy [Fitz Partners], 23 per cent of retail fund assets in the UK are held in these funds, which

UK funds still paying IFA commissions stand at £184bn – Financial Times Read More »

Amundi leads industry push for performance fee share classes – Ignites Europe

Amundi is leading a group of European asset managers that are increasingly using share classes with performance fees in response to demand among wholesale clients for fairer pricing. This comes as chief executive officers at Aviva Investors and Allianz Global Investors have said more active managers should be charging for alpha and not beta. The

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‘Twin’ performance fee share classes across Europe offer a 22 per cent discount in management fees – Institutional Asset Manager

In its latest research, Fitz Partners has identified 22 promoters offering 167 sets of ‘Twin’ share classes domiciled either in Luxembourg, Ireland or the UK. In comparable research from September 2017, only 43 sets of “Twin” share classes were in existence. […] Overall, when comparing all the “Twin” share classes, Fitz Partners found that their

‘Twin’ performance fee share classes across Europe offer a 22 per cent discount in management fees – Institutional Asset Manager Read More »

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